Chief Executive Officer
Beecher Carlson, Atlanta
The Man in Charge
In his new role as chief executive officer for Beecher Carlson, Dan Donovan transmits his "out of the box" ideology throughout the entire organization.
One of Beecher Carlson's clients recently made an acquisition with loan covenants requiring a $25,000 general liability and property deductible. The premium to buy the deductible down from the client's corporate retentions was $325,000.
The brokerage firm designed a "one-way retro endorsement" that allowed the market to issue a policy covering $25,000 worth of claims for a $20,000 premium. If the loss ratio were to exceed 10 percent, the client would have to pay an additional $250,000 to the $20,000 premium, but the client doesn't intend to file any additional claims. As a result, the client saved $305,000 and was able to close the deal.
"As a result of Dan's leadership, which instills and demands expertise, the company attracts those who have a passion for the industry," said one client. "They don't just have expertise in their lines of coverage, but they also strive to really understand their clients to get the best possible solutions for them."
Another client said that Donovan is a "very hands-on, very intelligent guy."
"He has a way of making a very difficult process much easier to understand and solicits a lot of input," this client said. "He is committed to customizing the process to fit the customer's needs and not what is in the best interests of the broker."
February 21, 2012
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